Taiwan’s industrial production index gained 6.08 percent year on year to a record 112.26 points in July on the back of growth in manufacturing and utilities, according to the Ministry of Economic Affairs Aug. 25.
“Output has risen six months in a row, showing the country’s industrial sector is recovering at a steady pace,” MOEA Department of Statistics Deputy Director-General Yang Kuei-hsien said.
Among the five subindexes, manufacturing, which accounts for about 93 percent of the weighting, gained 6.77 percent year on year to a record 112.27, while electricity and gas supply also increased 5.75 percent. But construction and mining and quarrying posted double digit declines.
“Robust demand for automobiles, light-emitting diodes, machinery, optical components, petrochemicals, semiconductors and steel helped lift manufacturing performance,” Yang said. "Industrial production is expected to remain healthy as the local manufacturing sector continues to expand in the third quarter in line with the recovering global economy and strong demand for mobile devices."
Total output from commerce stood at NT$1.24 trillion (US$41.42 billion) in July, up 2.8 percent from a year ago and also a record high. By sector, retail sales gained 5.5 percent over the period, as discounts at summer sales boosted purchasing and shoppers stocked up for the ghost month festival. Food and beverage sales also gained 3.1 percent.
The MOEA forecasts commerce to show steady growth this month as the local economy continues to gather steam. (SFC-SDH)
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